In the case of Noble Denton Middle East and Another v Noble Denton International Limited [2010] EWHC 2574, Mr Justice Burton was asked to decide two points. First, whether an arbitrator should be appointed by virtue of an application made under s. 18 of the Arbitration Act 1996; and, second, whether those arbitration proceedings should be stayed in favour of Texas proceedings.
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United Kingdom
UK: FSA Statement Regarding Payment Protection Insurance (PPI)
By Troutman Pepper Locke on
The Financial Services Authority (the FSA) has recently issued a statement on the status and implications of the open letter it sent to the insurance industry in August 2010 setting out common point of sale failings for PPI sales. …
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International Association of Insurance Supervisors issues paper on the role of participants in MicroInsurance
By Troutman Pepper Locke on
The International Association of Insurance Supervisors (IAIS) has produced a joint issues paper with the MicroInsurance Network regarding the role of mutuals, cooperatives and community-based organisations (MCCOs) in insurance markets. …
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UK: Ghost Brokers Charged with Insurance Fraud
By Troutman Pepper Locke on
Posted in United Kingdom
Three people have been charged with motor insurance fraud after allegations they acted as “ghost brokers”, the Insurance Fraud Bureau (IFB) has reported. The two men and one woman are suspected of working as ghost brokers, or illegal intermediaries, offering cheap motor insurance. …
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UK: Prudential Test Case Relating to UK Dividend Taxation Adjourned
By Troutman Pepper Locke on
Posted in United Kingdom
Prudential Assurance Co Ltd & Ors v Revenue & Customs Commissioners [2010] EWHC 2811 (Ch) concerned the UK’s former rules on the taxation of dividends received by insurance companies resident in the UK on shareholdings in foreign companies which were held as investments in their pension and life assurance business. …
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UK: English High Court Rules on Permissibility of an Appeal Against an Arbitral Award on a Point of Foreign Law
By Troutman Pepper Locke on
Posted in Arbitration, United Kingdom
In Guangzhou Dockyards Co Ltd v ENE Aegialii [2010] EWHC 2826 (Comm), Mr Justice Blair dismissed an application which had sought to appeal against an arbitration award on an issue of fact. …
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UK: ATE Insurer Liable to Solicitors Under ‘No Win, No Fee’ Guarantee
By Troutman Pepper Locke on
Posted in Coverage & Claims, United Kingdom
In the recent case of Greene Wood Mclean LLP v Templeton Insurance Ltd (2010) EWHC 2679 (Comm), the Commercial Court considered whether Templeton was liable to GWM, a firm of solicitors, under an after-the-event (ATE) insurance policy. …
Read More UK: ATE Insurer Liable to Solicitors Under ‘No Win, No Fee’ Guarantee
UK: Scottish Lion – Waiver of Privilege by Creditor Participating in Scheme of Arrangement
By Troutman Pepper Locke on
In another instalment of the Scottish Lion saga (see our previous blog entries here, here and here) the Outer House of the Court of Session (the Scottish First Instance Court) has ruled that where a scheme creditor submits documents in support of his claim for voting purposes at the creditors’ meeting convened to approve a scheme of arrangement, he is deemed to have waived any privilege there might have been in such documents. …
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UK: FSA Enhances Client Asset Protection
In the light of the Lehman collapse, the FSA has been taking steps to improve client asset protection. On 20 October 2010 it published a policy statement giving details of some changes to the client assets regime which would take effect on a variety of dates in 2011. …
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UK: English Commercial Court Considers the Effect of Sanctions on a P&I Club
By Troutman Pepper Locke on
Posted in Coverage & Claims, United Kingdom
In Islamic Republic of Iran Shipping Lines v Steamship Mutual Underwriting Association (Bermuda) Limited [2010] EWHC 2661 (Comm) the Commercial Court had to assess the impact of the Financial Restrictions (Iran) Order 2009 (the Order), and a licence made under it (the Licence), on the provision of marine protection and indemnity (P&I) insurance. …
Read More UK: English Commercial Court Considers the Effect of Sanctions on a P&I Club